Agro-fishery-forestry exports rise to over $6.7b

Update:
March, 29/2016 - 09:00

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Packages of rice manufactured by Kiên Giang Import-Export Company Limited. Many types of agricultural produce saw increasing export values in the first three months of this year, including rice. — VNA/VNS Photo Trọng Đạt

HÀ NỘI – Agro-fishery-forestry exports were estimated at US$6.73 billion in the first quarter of this year, a year-on-year increase of 3.1 per cent, according to the Ministry of Agriculture and Rural Development.

Many types of agricultural produce saw increasing export values in the first three months, of which some 1.59 million tonnes of rice were shipped to foreign markets and brought home $692 million, up 41.6 per cent in volume and 40.8 per cent in revenue against the same time last year.

Indonesia emerged as Việt Nam’s largest rice importer with 31.42 per cent of the market share, followed by China with 17.15 per cent.

Overseas shipments of 479,000 tonnes of coffee also earned the country $808 million, showing annual gains of 30.2 per cent and 5.7 per cent in volume and value, respectively.

Despite a 1.7 per cent reduction in export volume to 55,000 tonnes in Q1, cashew nuts still contributed revenue of $416 million to the country’s total exports, up 3.3 per cent, thanks to a price hike of 5.5 per cent. The United States, China and the Netherlands remained Việt Nam’s largest cashew consumption outlets with market shares of 27.5, 21.2 and 12.7 per cent, respectively.

In stark contrast, the volume of tea exports declined by 5 per cent to 23,000 tonnes, compared to the same time in 2015. As such, its revenue was down 10.2 per cent to $35 million.

The value of aquatic exports in the quarter was calculated at nearly $1.36 billion, rising 1.7 per cent from the same period last year.

Accounting for roughly 51.8 per cent of the market share, the United States, Japan and China remained Việt Nam’s largest seafood consumption markets.

In the first quarter, the country also earned $1.49 billion from the export of wood products, down 1.4 per cent.

As for imports, the country had to spend $5.31 billion for agro-forestry-fishery imports in Q1, down 3.9 per cent against the same period last year. –VNS